What is group health insurance?
A group health insurance (GHI) provides health insurance coverage to employees or members of an organization. Usually, it is offered as a part of employee benefits by most organizations/employers as they bear the premium paid towards the policy.
Also known as corporate health insurance or group mediclaim policy, the coverage benefits can also be extended to the family members of the employees based on the type of plan opted for.
Why buy group health insurance for your employees?
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Tailor-made benefits
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Unlike any retail health insurance plan, group medical insurance is highly customizable according to your needs. In simple words, you only pay for what you choose.
Tax benefits
Employers can claim tax benefits when they pay a premium for group medical insurance, according to the Income Tax Act of 1961.
Improve job satisfaction
60% of employees feel benefits can improve job satisfaction. Healthcare benefits like employee group health insurance can lead to an engaged and productive workforce.
Employer branding
Offering a corporate group mediclaim policy with added benefits can promote goodwill generation and attract talent. What’s better than hearing “This workplace is awesome”
Enhance employee retention
“The grass is greener on the other side”. So, don’t let your team look on the other side. By offering competitive healthcare benefits like a group health insurance policy with maximum benefits apart from the regular wages, you can improve employee retention.
Financial protection
The COVID-19 pandemic and lifestyle diseases are the major reasons for hospitalization now. Offering the group mediclaim insurance policy for employees can play a big role in financially securing your employees during any medical emergencies.
How does group health insurance work?
A group health insurance policy works like a master health insurance policy that provides uniform coverage to the members present in the group. So, all employees are provided with the same coverage options.
Also, in a group health insurance plan the risk of the policy is spread equally across all the members present in the group. This makes the annual premiums cheaper than a retail policy. Usually, the employers pay the premium and offer the group health plan as an employee benefit.
The employers can decide if they wish to offer any additional benefits with the group health insurance plan by opting for any add-on riders with the existing policy by paying an extra premium.
List of group health insurance companies in India
Customizable benefits at affordable premiums
A group health insurance policy is always customizable according to your group size and needs. You can choose your add-ons and copay.
No-medical tests required
Unlike a retail health plan, your group health insurance does not require medical tests before purchasing the policy.
0 waiting period
Unlike your retail plan, your group mediclaim plan has 0 waiting period for covering pre-existing diseases.
Cashless network hospitals
Employees and their dependents covered in the policy can go cashless at all network hospitals offered by your insurer.
Covid hospitalizations covered
Now all your group health insurance plans provide coverage for hospitalization expenses to Covid-19 once you are tested positive.
What should your group health insurance policy cover?
In-patient hospitalization expenses
Cover all your in-patient hospitalization expenses under medical insurance for employees depending on the terms and conditions of the policy.
Pre and post hospitalization expenses
Depending on the type of plan and benefits opted, the pre and post hospitalization charges are covered.
Cashless claims
Don’t pay a penny at network hospitals. Employees can easily avail cashless claims with just their phones.
Maternity coverage
Have a young team? Opt for maternity insurance as an add-on with your group health insurance plan
Pre-existing diseases coverage
All your pre-existing diseases are covered from day 1 of the policy.
Covers family
Depending on the type of plan and benefits opted, the pre and post hospitalization charges are covered.
Covid-19 coverage
All hospitalization expenses related to Covid-19 are covered by your corporate medical insurance.
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Who is eligible for group health insurance?
Any company, organization, or group with the same interest are eligible to purchase the group health insurance policy.
Groups or organisations with more than 20 members can opt for a group health insurance policy. The IRDAI has said that groups of less than 5 people can take micro-insurance plans.
Who is not eligible for group health insurance?
If a family-owned business is looking for a group health insurance plan, the spouse of an employee is not eligible for coverage. However, if non-family employees are within the business, the spouse can be included in the group insurance coverage.
A solo entrepreneur with no employees is not eligible for a group health insurance policy. He/she can opt for individual health insurance coverage.
Customized policy - Group health plan for companies of all sizes
Group health insurance doesn’t have to be one-size-fits-all. We help you design and manage policy based on your company’s size, growth, and of course, your employees.
Group health insurance for small business/startups
Founders of a startup have a million things to worry about. We ensure employee insurance isn’t one of them. Pazcare makes buying and managing group health insurance easy even for a team as small as 2. Check out Group insurance for startups
Group mediclaim plan for high-growth companies
Managing group health insurance can be a struggle for any high-growth company with rapid hiring and expansion. We’ve got you covered with our sophisticated tech-based admin and employee dashboard.
Group health insurance for small business/startups
We help you provide health insurance that is inclusive, extensive and much-needed for your team considering the varied interests of employees in large enterprises. You can consult with us to customize and offer the best policy.
Calculate your group health insurance premium
Calculate NowCorporate insurance for employees from Pazcare
Pazcare aims to make employee insurance experience seamless by providing the best group insurance for employees and by reducing work for employers.
One point of contact
No waiting on customer support calls. From the day you purchase the GHI policy, you will have a dedicated SPOC to handle your employees and help you out at all times.
Not just a broker, but also a consultant
We’ll help you understand and design the best suitable policy for you and your team with demography, requirements, budget, current employee benefits, etc.
The super top-up feature
Your employees can increase the sum insured and add more members to the plan on their own using the super top-up feature.
Beyond just health insurance!
Now go a level further by adding health and wellness plans like therapy, wellness sessions, unlimited doctor consultations, and many more to your group health insurance policy.
Policy coverage from day 1
Policy is activated as soon as you buy and employees can use their insurance from day 1.
Pazcare dashboard advantage
Manage your policy, add/delete employees, and access employee and family details without hassles at one place using the employer experience dashboard.
HRMS integration
Pazcare dashboard can be easily integrated with your HRMS to automate endorsements.
Mobile app for employees
Easy access to policy details, inclusion and exclusions using the mobile application.
Digital health card
Forget papers! The health insurance ID card is available for download at any time in your mobile app.
Things to know before buying the best group health insurance policy in India
Claim settlement ratio of the insurer
The CSR/Claim Settlement Ratio of the insurer is the number of claims settled to the number of claims received by the insurer. Always prefer an insurer with a good CSR.
Network hospitals coverage
Your employees can live in any part of the country and mishaps can occur anywhere. So prefer an insurer with good network hospitals coverage to avail cashless claims.
Add-on benefits for your group mediclaim
Always look for the number of add-on benefits like dental coverage, maternity insurance, etc your insurer offers while purchasing corporate insurance for employees.
Customer claim experience
You know the struggle in manually getting claims settled with insurers while purchasing your group medical insurance policy. Let us make your claim experience less manual and quicker.
Ease of endorsements
Choose the insurer that does not make the group health insurance experience hard by involving third parties for editing employee details.
Documents required for group health insurance policy
For a fresh policy
Name of the employee and employee ID
Personal details like name, age, gender, marital status
List of the dependents
Details on the add-ons and sum insured
For renewals
Active data of the employees - name, age, gender
Claim analysis report
Claim dump report from the insurer/TPA
Policy copy
Group health insurance vs Individual health insurance
How to claim your group health insurance?
Cashless claim
Name of the employee and employee ID
Personal details like name, age, gender, marital status
List of the dependents
Details on the add-ons and sum insured.
Reimbursement claim
Active data of the employees - name, age, gender
Claim analysis report
Claim dump report from the insurer/TPA
Policy copy
They love their employee benefits!
You can easily choose and build your benefits package. We have it all.
Prakash
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The Pazcare team was very helpful in helping us with the details and the documents needed for the claim process. Everything about the company is impressive.
Shreya Roy
The Dashboard is very easy to use and additions and deletion have become extremely easy and seamless. Employees have easy access to insurance details on the app
Hemanth Kumar Addada
The dashboard is also very user-friendly with a very good UI/UX.
Vishwanath HY
Dashboard really helps in getting quick response for any queries and reimbursement
Shraddha Shikhare
Hassle-free and quick onboarding of employees into the medical service and queries resolved asap.
Manasa Deval
Everything online. Buying, onboarding, claims— everything is digital and easy. The onboarding experience specifically was good.
Ranjith Singh
My leadership team is happy that the HR team has made the right choice. Have got the best policy for the best premium. The dashboard is really time-efficient.
Sumaya Begum
We have had employee insurance before. But with Pazcare our employees understand it much better and have easy access. This has helped a lot in reducing the dependency on HR.
Ankita Mishra
Loved having options to get add-ons along with group insurance.
Dhvanil Pipaliya
I got quick and satisfactory replies and the entire process was fast. I got the claim amount in less than one week after submitting my claim.
Sarlaksha Ganesh
I really appreciate Darshan from your team from the bottom of my heart. His patience, support and availability for queries are all a cut above the rest. His ability to connect with people, empathize with client needs and be super responsive are excellent. We have already got 2 claims settled without effort.
Aman Yadwadkar
Customer support team is prompt. WhatsApp Chatbot is helpful too.
Arundhati Pai
Claim management is top-notch. Insurance experience for employees really boils down to claims and we are very happy with it.
Vijaykumar
Got approval in time
Shivani Prasad
Employees are happy with quick responses to their queries, especially with claims. Easy to coordinate.
Singram Sharma
I got a GMC policy for my 4-month-old startup with amazing wellness benefits. Love everything about it.
Divya
My team enjoys the wellness activities conducted by Pazcare. They actually participate and look forward to it.
Singram Sharma
I got a GMC policy for my 4-month-old startup with amazing wellness benefits. Love everything about it.
Divya
My team enjoys the wellness activities conducted by Pazcare. They actually participate and look forward to it.
Prakash
The Pazcare team was very helpful in helping us with the details and the documents needed for the claim process. Everything about the company is impressive.
Arundhati Pai
Claim management is top-notch. Insurance experience for employees really boils down to claims and we are very happy with it.
Vijaykumar
Got approval in time
Shivani Prasad
Employees are happy with quick responses to their queries, especially with claims. Easy to coordinate.
Dhvanil Pipaliya
I got quick and satisfactory replies and the entire process was fast. I got the claim amount in less than one week after submitting my claim.
Sarlaksha Ganesh
I really appreciate Darshan from your team from the bottom of my heart. His patience, support and availability for queries are all a cut above the rest. His ability to connect with people, empathize with client needs and be super responsive are excellent. We have already got 2 claims settled without effort.
Aman Yadwadkar
Customer support team is prompt. WhatsApp Chatbot is helpful too.
Ranjith Singh
My leadership team is happy that the HR team has made the right choice. Have got the best policy for the best premium. The dashboard is really time-efficient.
Sumaya Begum
We have had employee insurance before. But with Pazcare our employees understand it much better and have easy access. This has helped a lot in reducing the dependency on HR.
Ankita Mishra
Loved having options to get add-ons along with group insurance.
Shreya Roy
The Dashboard is very easy to use and additions and deletion have become extremely easy and seamless. Employees have easy access to insurance details on the app
Hemanth Kumar Addada
The dashboard is also very user-friendly with a very good UI/UX.
Vishwanath HY
Dashboard really helps in getting quick response for any queries and reimbursement
Shraddha Shikhare
Hassle-free and quick onboarding of employees into the medical service and queries resolved asap.
Manasa Deval
Everything online. Buying, onboarding, claims— everything is digital and easy. The onboarding experience specifically was good.
Frequently asked questions about group mediclaim policy
What is Group Health Insurance?
A group health insurance is a type of health insurance plan that provides coverage to a group of employees working in an organization
Is group health insurance mandatory for employees working in India?
As per the post lockdown Covid-19 guidelines by the Indian government, group medical insurance has become mandatory for employees.
What is the minimum number of employees required for group health insurance?
According to IRDAI an organization with 7 or more lives is qualified to buy group health insurance. But with Pazcare you can get insured for a team as low as 2 members. Check out Paz for startups.
What is corporate health insurance?
Corporate health insurance is the same as group health insurance. It provides health insurance coverage to the employees working in an organization.
Who can get group health insurance?
All employees aged between 18 to 70 years working in an organization are eligible to get group health insurance.
How to get group health insurance?
To get group health insurance, all you have to do is get in touch with Pazcare. Provide us with the requirements, get competitive quotes and get started with the plan that suits you the most. To know more, check out 5 easy steps to get group health insurance.
What are the types of group health insurance plans?
A group health insurance policy has 3 variations.
- Employee only/Self (E)
- Employee, spouse, and children (ESC)
- Employee, spouse, children and parents/in-laws (ESCP)
When should I get a group health insurance policy for my employees?
An employer can get a group health policy anytime. The number of employees doesn't matter. The company has to specify the coverage requirement that includes sum insured, room rent limits, maternity etc. Based on the requirement, quotes will be given.
What is corporate buffer meaning in group health insurance?
A corporate buffer in group health insurance is a benefit that covers the cost of critical illness treatment of the employees when he/she have exhausted the sum-insured limit in their group medical insurance policy. This is an approval-based benefit managed at the organisational level.
Who can buy group mediclaim policy for employees?
Group mediclaim policy for employees can be purchased by all startups, organisations of all types and sizes, or groups with a common interest in buying a group plan are eligible for group health insurance.
How to buy group health insurance online?
Here are 3 easy steps to buy the best group health insurance for employees online. First, get in touch with Pazcare and let us know your requirements. Pazcare takes a consulting approach to help you understand group health insurance policy and its coverage. Hence, you can choose your add-ons and coverage according to the needs of the employees. Second, Pazcare offers multiple quotes from insurers. Compare the group health insurance quotes from multiple insurers and customise your policy. Insure your employees with the best group health insurance policy and your coverage starts from day 1.
How to buy/renew group health insurance for employees?
Group health insurance for employees - for a fresh policy
- Get in touch with Pazcare.
- Click on the get quote button. Please disclose the basic information mentioned on the form.
- Our insurance experts will get in touch with you.
- You can also write to us at marketing@pazcare.com to purchase a new policy.
Group health insurance for employees - for a renewal policy
- Get in touch with Pazcare regarding your policy renewal.
- You can either write to us at marketing@pazcare.com or visit our website and fill in the form.
- Our health insurance experts will get in touch with you.
- As this is a renewal policy, we will require a few documents like claim history to proceed with the policy purchase.
What is group medical insurance for employees?
Group medical insurance for employees is a type of health insurance policy that offers coverage to employees or a group of people who are working under an organization. It offers coverage for hospital expenses and other treatments depending on the terms and conditions of the policy. Group medical insurance is also known as employee health insurance or group health insurance.
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